Industrial technology company Acuity Brands, Inc. (AYI) reported Tuesday that its second-quarter net income was $75.3 million, up 19.7 percent from last year's $62.9 million.
Earnings per share of $2.13 increased 22.4 percent from $1.74 in the prior year.
Adjusted net income was $91.0 million or $2.57 per share, compared to $76.7 million or $2.12 in the prior year.
On average, nine analysts polled by Thomson Reuters expected earnings of $2.37 per share for the quarter. Analysts' estimates typically exclude special items.
Gross margin, meanwhile, declined 170 basis points to 41.7 percent from 43.4 percent over the prior year but was flat sequentially over the first quarter of 2022.
Net sales for the quarter were $909.1 million, an increase of 17.1 percent from last year's $776.6 million. Analysts were looking for sales of $884.62 million for the quarter.
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